APC Technology Group PLC Post Year End Trading Update (6121B)
September 24 2018 - 1:00AM
UK Regulatory
TIDMAPC
RNS Number : 6121B
APC Technology Group PLC
24 September 2018
24 September 2018
APC TECHNOLOGY GROUP PLC
("APC" or the "Company" or the "Group")
Post Year End Trading Update
The Board of APC, which provides design, specification and
distribution of specialist electronic products and components, are
pleased to confirm that the unaudited full year results to 31
August 2018 are expected to be in line with management
expectations.
The full year 2018 results will deliver another year of growth
in revenue and profit. 2018 has also been a transformational year
through the roll out of our strategy and the acquisitions that have
been completed.
These positive results have meant that net debt at the end of
the year is expected to be have decreased to GBP2.5m (2017:
GBP3.1m) of which GBP2.3m (2017: GBP2.5m) related to amounts owed
under the Group's GBP6m invoice finance facility with ABN
Commercial Finance. Cash at the year end has increased and stood at
GBP0.8m (2017: GBP0.4m).
Aspen Electronics Limited ("Aspen") Integration and the enlarged
Group's bookings
The integration of Aspen is going very well and the enlarged
Group is already progressing on driving synergies. It is worth
noting that the enlarged Group took bookings of GBP22.5m in the
year to 31 August 2018, representing a healthy book to bill ratio.
This run rate positions the Group as a significant player in the
design and specification distribution industry.
Business Strategy
The Board remains confident of further revenue and profit growth
in 2019 and remains committed to the Company's three main growth
drivers: growth through increased bookings from existing
technologies, in particular those that sit in high growth markets;
growth through the signing of new complementary product lines; and
growth through targeted bolt-on acquisitions.
Richard Hodgson, Chief Executive of APC, commented:
"2018 has been a transformational year for APC. We have
significantly increased the scale and profitability of the business
and this means that we can offer an even greater value added
service to our technology partners and our customers. We will
continue to pursue our three faceted growth strategy of selling
more of the technology and products that we have with our enlarged
sales force, of signing new, proven technology partners and through
strategic bolt on acquisitions."
Enquiries
APC Technology Group PLC +44 (0) 330 313 3220
Richard Hodgson, Chief Executive www.apcplc.com
Michael Thompson, Finance Director
Stockdale Securities Limited (Nominated Adviser and Broker) +44
(0)20 7601 6100
Mark Brown / Antonio Bossi / Edward Thomas
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END
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